GM Rushes into Online Advertising
According to Adage, GM is making some bold moves to bolster it’s marketing strategy by switching half of it’s $3 billion budget into digital advertising. The rest of the auto industry is sure to follow:
“Online is getting to the point where it may be more important than the 30-second TV spot.”
-VP-Marketing Joel Ewanick, Hyundai Motor America
Of course, we have known for some time that audiences have been moving online and it was only a matter of time before the bigger and more conservative advertisers jumped in. It is important that GM figures out how to spend their $1.5B as the digital advertising options abound. In the past, early adopters who have figured out the best way to spend online have taken advantage of bargain prices and furthered their market penetration.
Online allows for quick learning cycles and it is important that advertisers take advantage of the quick turn around. Take AdWords for example. After trying different combinations of keywords and landing pages, an advertiser can devise an effective campaign; however, this takes focus and energy. A lot of companies choose keywords, don’t monitor their stats and logs, don’t change their keywords for months, and as a result end up wasting money.
I hope that GM finds effective ways to spend its money. Their ROI will be good for the digital advertising industry and provide efficiencies for the economy. There is no greater drain on the market than both traditional and online advertising that doesn’t reach its target market. The saving of efficiently connecting buyers and sellers will trickle down to all of us.